Jeremy R. Polk is a partner and business lawyer with Foley & Lardner LLP. He represents public and private borrowers, issuers, and other parties in a broad range of finance transactions. Mr. Polk is a member of the firm’s Finance & Financial Institutions Practice.
- secured and unsecured, senior and subordinated, investment grade and below investment grade, revolving and term, syndicated, participated and bilateral, domestic, international and multicurrency credit agreements, and facilities and indentures; and
- securitization and other structured finance transactions relating to various types of assets and loan participations, including securitizations of credit card receivables, mortgage loans, and equipment dealer receivables, equipment lease financings, real property tenant-in-common transactions, and mortgage loan repurchase facilities.
Mr. Polk also has experience in connection with the drafting, negotiation, and delivery of true sale / non-consolidation and true lease legal opinions in securitization and structured finance transactions and other financial asset sale transactions in the secondary market.
Such opinions include true sale / non-consolidation opinions relating to the securitization of the types of assets described above, true sale opinions with respect to participation interests in loans, and true sale opinions with respect to mortgage loans sold under the Fannie Mae DUS and single family programs and the Federal Home Loan Banks’ mortgage purchase programs; true sale / non-consolidation opinions with respect to the securitization of health care receivables; true lease opinions in connection with mortgage loan securitization transactions; and non-consolidation opinions in connection with real estate tenant-in-common transactions.
- Mr. Polk graduated from the University of Minnesota, where he earned his B.S.B. with an accounting major (2000, with high distinction). Following graduation, he passed the uniform CPA examination.
- Mr. Polk earned his law degree from Northwestern University School of Law (2004, summa cum laude), where he was elected to the Order of the Coif and awarded the John Paul Stevens Award for highest cumulative grade point average in his graduating class.
Representative Matters :
- Foley represented Guggenheim Baseball Management in its acquisition of the Los Angeles Dodgers, marking the single largest transaction ever for a professional sports franchise. The new ownership group is led by Mark Walter, Chief Executive Officer of Guggenheim Partners, Earvin “Magic” Johnson, Peter Guber, and Stan Kasten, the former president of the Atlanta Braves and Washington Nationals, among others.
- The transaction, valued at over $2 billion, closed as of April 30, 2012, per an agreement between owner Frank McCourt and Major League Baseball (MLB) that was approved by the Delaware Bankruptcy Court, with funding occurring on May 1, 2012.
- This complex transaction was a unique and highly competitive sale process and tight timeline that required closing within 30 days of being selected as the winning bidder and special consideration to matters related to mergers and acquisitions, tax, bankruptcy, financing, real estate and land use, and media rights, among other areas.
- Overall, more than 60 Foley attorneys from 11 offices and 12 different practice groups assisted on the transaction, demonstrating both the breadth and depth of Foley’s capabilities in assisting clients to navigate such complex and high-profile transactions.
- The Dodgers transaction follows on the heels of Foley’s successful recent representations of Wayne Weaver in his sale of the Jacksonville Jaguars, Rangers Baseball Express LLC in its acquisition of the Texas Rangers, and the Ricketts Family in its acquisition of the Chicago Cubs, which previously held the record price for an MLB franchise sale at $845 million.
- Foley led the acquisition of a controlling interest in the iconic Chicago Cubs franchise, including ownership in Chicago’s regional sports network and Wrigley Field, in the then single largest transaction ever for a North American sports franchise.
- Spanning 2.5 years and involving more than 30 attorneys from seven offices, our work in this multifaceted deal successfully traversed league approval, financing challenges, and resolved complex tax, corporate, bankruptcy, real estate, environmental, and broadcasting issues.
- Foley led the Ricketts family through the lengthy and competitive bidding process, negotiations over terms of a complex leveraged partnership, the restructuring of Cubs media contracts, and two separate bankruptcy proceedings.
- This complex deal required an exceptional combination of mergers and acquisition experience with specific sports-industry knowledge. Foley’s team members not only had to have a strong background in their individual practices, but also a thorough knowledge of sports franchise issues, such as league rules, operational issues, and revenue sharing.
- Our long-standing relationship with MLB and sports bankers, our extensive experience with notable MLB deals, and our prior representation of the Ricketts family allowed us to seamlessly integrate our inside view of the sports industry into a deal that allowed our client to be successful.
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